Japan’s MicroStrategy Metaplanet Buys 1000 Bitcoin As BTC Loses $104K Support

Key Insights:

• Metaplanet boosts Bitcoin holdings to 7,800 BTC after buying 1,004 BTC at $103,873 each.
• Bitcoin makes up 88% of Metaplanet’s Q1 revenue, with 300% quarterly BTC yield growth.
• Metaplanet stock jumps 12.2% after latest BTC buy, closing in on 10,000 BTC target.

Japan-based investment company Metaplanet has acquired 1,004 more Bitcoin (BTC), spending approximately $104.3 million as the price of BTC fell below the key $104,000 support level. The Tokyo-listed firm confirmed the purchase in a filing released early Monday.

The new acquisition brings Japan’s MicroStrategy’s total Bitcoin holdings to 7,800 BTC, with a total value of around $806 million based on current market prices.

This marks another step in the company’s broader goal of reaching 10,000 BTC by the end of 2025. The average price per Bitcoin for this latest purchase was $103,873, suggesting the firm is buying the dip as Bitcoin’s value hovers near a resistance zone.

Metaplanet, often regarded as Japan’s MicroStrategy, initiated its Bitcoin treasury strategy in April 2024. Since then, it has used the proceeds from bond sales and equity offerings to buy more and more BTC. This makes the latest acquisition the company’s third of its kind, and for a total of $712.5 million, with an average of $91,343 per coin.

A press release from the company’s CEO, Simon Gerovich, confirmed the latest transaction, adding that Metaplanet is committed to its long-term BTC strategy. The capital raising for the firm is done by a combination of debt instruments like ordinary bonds and moving strike warrants.

Only last week, they made a 15th bond issuance, raising $15 million for funding their crypto acquisitions.

According to Bitcointreasuries.net, the firm is currently the largest publicly listed corporate Bitcoin holder in Asia. It ranks 11th globally, with MicroStrategy, led by Michael Saylor, remaining at the top with 568,840 BTC.

Bitcoin Price Drops Below $104,000 as Market Tests Support

At the time of Metaplanet’s latest purchase, Bitcoin was trading at $103,343. This placed it just below the $104,000 support zone, where a strong demand base had previously formed. Earlier in the day, BTC reached $107,108 before falling back.

Analysts note that while BTC has dipped 3.3% over the past 24 hours, buyers are still active. The $102,734 level is seen as a key support, and Bitcoin is currently trading just above it at $102,907. If the level holds, Bitcoin may consolidate above $103,000 before attempting to retest the $105,000 range.

However, some concerns remain about whether long-term holders will take profits, which could push the price further down to $100,000. So far, investor sentiment appears stable, with institutional players like Metaplanet continuing to accumulate.

Metaplanet recently announced its Q1 2025 results, reporting ¥877 million (approximately $6 million) in revenue. Bitcoin accounted for 88% of that amount, underlining its central role in the firm’s income model. The company saw a 300% quarter-over-quarter yield growth from its BTC portfolio, and expects a total return of over 232% by the end of 2025.

Between January and May 10, “Japan’s MicroStrategy” increased its BTC holdings by over 5,000 BTC. The company disclosed a separate purchase of 1,241 BTC for $119 million on May 12, 2025, at an average price of $95,700 per coin. These additions pushed its holdings from 1,700 BTC at the start of the year to 7,800 BTC as of this week.

Shareholder interest has also grown rapidly. The number of shareholders jumped by 500% in one year, reaching 64,000 by the end of Q1. This growth reflects a rising level of investor confidence in Metaplanet’s strategy.

Metaplanet is drawing comparisons to Microstrategy, regarded as the largest corporate Bitcoin holder, in terms of its aggressive Bitcoin accumulation. They share nearly identical ways to raise capital, which is raised through traditional financial instruments to invest in BTC as a reserve asset.

Right now, MicroStrategy holds 568,840 BTC, and Metaplanet is working towards the 10,000 BTC goal. This latest acquisition serves as a step towards the Japan-based firm acquiring 78% of that target.

The company’s direction has been reflected in its stock market performance. Shares of Metaplanet, listed under ticker 3350.T, have gained 70.91% since January. Following news of the latest BTC purchase, the stock rose 12.2% on Monday alone.